The economic outlook for the Middle Eastern countries is challenged by the continued oil price sluggishness. The fiscal consolidation measures will continue throughout 2017 to combat deficit and is expected to ease in 2018 if oil prices uptick. On one hand, the first half of 2017 is being characterized by Saudi Arabia led oil production cut agreement by The Organization of the Petroleum Exporting Countries (OPEC) members. Egypt, on the other hand has taken major economic development agenda through liberalization of the exchange rate, launch of value added tax and business environment reforms. The depreciating currency should enhance competitiveness in Egypt in second half of 2017. The depleting fiscal savings a

The economic outlook for the Middle Eastern countries is challenged by the continued oil price sluggishness. The fiscal consolidation measures will continue throughout 2017 to combat deficit and is expected to ease in 2018 if oil prices uptick. On one hand, the first half of 2017 is being characterized by Saudi Arabia led oil production cut agreement by The Organization of the Petroleum Exporting Countries (OPEC) members. Egypt, on the other hand has taken major economic development agenda through liberalization of the exchange rate, launch of value added tax and business environment reforms. The depreciating currency should enhance competitiveness in Egypt in second half of 2017. The depleting fiscal savings and slow growth of the oil and gas sector will hinder economic prosperity in Algeria in 2017.